08.04.2022

Hubbub around NFTs- week 10

Published by Appetite Creative

To add more depth to our Hubbub newsletter, we have decided to publish it bi-weekly and focus more on a new section of our newsletter, starting this week, called "The Market Tips." Under this title, you will find quotes or information on how to keep up with changes in the NFT market and learn more about new investment opportunities.

 

Market tips

A major reason most people make meagre profits from the sale or acquisition of their NFTs is the high gas fees incurred when transacting on the Ethereum Blockchain, common in OpenSea. These fees are often dependent on the number of simultaneous transactions. Since Ethereum is a common option among millions of NFT traders and enthusiasts, OpenSea users normally spend a lot of money.

The left tab filter on OpenSea has different supported chains used to host NFTs, such as  Ethereum and Polygon chains.

An NFT minted on Ethereum requires a gas fee when it is bought, sold, or interacted with. You pay for listing the NFT, lowering the listing price, and deleting the listing, which is quite prohibitive for those working with a smaller budget. On the other hand, Polygon does not incur such exorbitant fees, which can be as high as $100 NFT for small customization or purchase.

With Polygon Blockchain, you can maximise your profits as you do not have to spend much on transaction fees.

 

#11. Ledger announced a partnership with The Sandbox

The Sandbox official Twitter revealed a piece of news about their partnership with hardware wallet pioneer, Ledger. Their aim is to secure the Metaverse and increase security, education & support for users. They will be building a hub on their LAND, providing users with support alongside learning and gamified experiences inside TheSandbox.

Ledger will also open an 'Office Hours Bar' within the Metaverse. Here, guests can pay a visit to customer support and discuss problems they may have encountered.

 

#22. Starbucks is preparing to enter the Metaverse

Starbucks, the world-famous coffee brand, has made a few changes in the company recently and appointed an interim CEO that will help lead the NFT drive.

Starbucks is a brand that many people have an emotional attachment to, and Starbucks is aware of this fact, which is probably one reason why this company is trending into the NFT space.

The new CEO is Howard Schultz, a businessman who has played an important role in Starbucks' history and who recently returned to the company as interim CEO.

 

#33. Solana NFT sales pass $1.6B

The Solana network is gaining traction among non-fungible token (NFT) traders as total turnover has surpassed $1.6 billion, making it the third most active blockchain by NFT turnover volume.

Data from NFT transaction tracker CryptoSlam confirms that total turnover on Solana has reached this milestone. Solana has also ranked second behind Ethereum in total sales over the past 30 days. (6 March to 6 April)

Solana is one of the networks that offers lower gas fees.

 

#44. Crypto Twitter raises funds for a community member's cancer treatment

Crypto community on Twitter demonstrated unity, as a member faced difficulties to cover the remedy expenses of his cancer. More than $73,000 in funds was donated by the crypto community.

The user Yopi (@Kuiyopi on Twitter) who had cancer in the past, tweeted on April 6 that his cancer has returned. According to his doctors, chemotherapy is no longer an option (since he had gone through it once previously), leaving stem cell transplant therapy as his only option. A therapy that an amateur trader cannot afford. Yopi needed only 14 hours to receive that money, after he tweeted about the situation. The crypto community members stepped in as a gesture of humanity and kindness and provided him with the funds even more than what he needed, mostly in ETH. His wallet balance is still increasing when the piece is being written.

 

#55. UK Government Plans to Create an NFT

The UK government has announced plans to issue a non-fungible token (NFT) to signal its commitment to a "forward-looking approach" to cryptocurrency technology and investment.

Chancellor of the Exchequer Rishi Sunak has asked the Royal Mint, the maker of British coins, to issue an NFT in the coming months, John Glen, minister and economic secretary to the Treasury, said on Monday at the Innovate Finance Global Summit.

The announcement also included the government's vision for stablecoins and distributed ledger technologies as part of its strategy for the UK financial services industry.

 

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